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DUBLIN--(BUSINESS WIRE)--Nov 15, 2022--
The "Global Softgel Capsule Market, By Type, By Application, By Manufacturers & By Region- Forecast and Analysis 2022-2028" report has been added to ResearchAndMarkets.com's offering.
Global Softgel capsule market was valued at USD 7.62 billion in 2021 and it is expected to reach at USD 12.97 billion by 2028, at a CAGR of 7.9% over the forecasted period (2022-2028).
Softgel capsules have several advantages, including ease of ingesting, odour and taste masking, improved absorption, higher bioavailability, and superior atmospheric stability. Traditional capsules now have more features, such as controlled drug release, tamper-evident packaging, and formulation choice of potent APIS due to reduced stomach pH degradation, appealing aesthetics, and longer shelf life, thanks to advancements in manufacturing technology and the introduction of new materials. Soft gel manufacturers are focusing on developing capsules composed of plant-based polymers rather than gelatine, such as starch, HPMC, and pullulan-type gums.
Segments covered in this report
Global Softgel capsule market is segmented based on type, application, manufacturers, and region:
Driver
The increasing number of clinical trials testing the efficacy of soft gelatin capsules in the treatment of various disorders is a significant factor fueling market expansion. For example, InnoPharmax Inc. sponsored a clinical study in August 2018 with the primary goal of assessing the safety and tolerability of D07001 softgel in patients who had completed first-line chemotherapy or combined chemoradiotherapy (CCRT) for unresectable or locally advanced biliary tract cancer (BTC). As a result, such factors encouraging the use of these capsules in various conditions will continue to drive market expansion during the projection period.
Restraint
The fundamental issue for healthcare organisations is the production, exploitation, and protection of intellectual property (IP) throughout its life cycle. Pharmaceutical companies work extremely hard to protect their income streams against patent expiry and generic competition. The patent expiration of numerous essential medications, according to Statista 2020, will put prescription drug income at risk in the next years. According to the survey, the value of prescription medications reached US$ 46 billion in 2019 before plummeting to US$ 16 billion in 2020. As a result, the introduction of generics will enhance competition for prescription pharmaceuticals, which will have an influence on the expansion of the softgel capsule industry.
Companies Mentioned
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KEYWORD:
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/15/2022 10:31 AM/DISC: 11/15/2022 10:32 AM
http://www.businesswire.com/news/home/20221115006122/en